329. Authorisation criteria: fit and proper persons requirement.

The following provisions apply for the purposes of enabling the Pensions Regulator1 to decide whether it is satisfied that the persons involved in a master trust scheme2 are fit and proper persons3.

The Pensions Regulator must assess whether each of the following is a fit and proper person to act in relation to the scheme in the capacity mentioned:

  1.  

    (1)     a person who establishes the scheme4;

  2.  

    (2)     a trustee5;

  3.  

    (3)     a person who (alone or with others) has power to appoint or remove a trustee6;

  4.  

    (4)     a person who (alone or with others) has power to vary the terms of